Eurozone Leaders Meet To Discuss Debt Crisis

European leaders meeting in Brussels this week are expressing concerns about the stability of the Eurozone and how to contain the debt crisis that is slowly crippling Eurozone bonds.

The two-day summit is seeking a way to establish a permanent agreement on how to rescue countries with heavy debt burdens. One problem facing the leaders this week is how to agree on such a course of action and who bears the brunt of the rescue costs.

Meanwhile concern over Spain’s financial stability continued to grow as it was forced to pay a higher rate of interest in a recent government bond sale.

Spain has been seen as the next country to need assistance since the Irish Republic was forced to take an aid package of 85bn euros (£72bn; $113bn) last month.

That bail-out followed the 110bn-euro rescue of Greece in May.

Sweden’s Prime Minister Fredrik Reinfeldt stressed that beyond crisis management there was a long-term need for EU countries to reform labor markets and boost competitiveness.

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Posted by M Cosmin on Dec 17 2010. Filed under Business, Featured News, Finance. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry

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